from King World News
On the heels of the Dow wiping out a more than 900 point gain and turning negative on the day, while the US dollar and oil rally, here is a gold update, plus look at what just spiked the most since the oil related blow up in 2016.
Contrarian Rally
March 10 (King World News) – Peter Boockvar: Well, if there was to be a contrarian sentiment set up for a rally after yesterday’s plunge it was the closing CNN Fear/Greed index which ended the day at just 3 out of 100. It was 3 in late December 2018. https://money.cnn.com/data/fear-and-greed/. According to my friend Helene Meisler, the Daily Sentiment Index ended yesterday at just 5 for the SPX and 4 for the NASDAQ, meaning that there were 95% bears for the SPX and 96% for the NASDAQ. Keep in mind though, these are short term indicators and are only relevant for the coming days/weeks…